Local Govt | National News Video | Parliament Headlines | Politics Headlines | Search

 


Centre City Plaza Sold

15 July 2002

Hutt City Council has agreed to Centre City Plaza Limited entering into an unconditional agreement to sell the Centre City Plaza building to developers Logos Developments Limited for $6 million, which is slightly higher than the current market valuation of $5.7 million.

The sale agreement also provides that Council could share in any increases in value realised in the next three years.

Mayor John Terris thanked the directors of Centre City Plaza and said it is good to see the issues surrounding the building finally put to rest through a sale while at the same time fostering development in the city and the location of a blue chip tenant in the southern end of High Street".

"The sale is an excellent result and is an endorsement of the confidence business has in the future of our city," said Mayor Terris.

The developers are planning to build two additional floors on top of the building to house a Ministry of Social Development call centre. The call centre will bring up to 100 additional jobs into the city.

The property has been making an operating surplus of around $500,000 per year, which is paid to Hutt City Council.

"The Directors are pleased to have been able to reach a win: win arrangement for council in this sale," said Bryan Jackson, Chair of Centre City Plaza Limited.

Settlement is to occur on 19 July 2002. All proceeds from the sale will be used to retire Council debt.

ENDS

© Scoop Media

 
 
 
 
 
Parliament Headlines | Politics Headlines | Regional Headlines

 

Wellington: Predator Free Capital Plan

Wellington City Council (WCC), the Greater Wellington Regional Council (GWRC) and NEXT Foundation, today announced a joint collaboration to make Wellington the first Predator Free capital city in the world. More>>

ALSO:

Gordon Campbell: On Judith Collins’ Efforts At Self Correction

Thousands of prisoners currently in prison may be entitled to an earlier release than expected – and compensation – because Corrections has incorrectly calculated their term of imprisonment. Unless of course, the government buries its mistakes by changing the law and retro-actively getting itself off the hook… More>>

ALSO:

More Justice & Corrections

Sector Opposes Bill: Local Government Bill Timeframe Extended

The Minister of Local Government Peseta Sam Lotu-Iiga has asked the Select Committee to extend the report back date for the Local Government Act 2002 Amendment Bill (No 2). More>>

ALSO:

Breed Laws Don’t Work: Vets On New National Dog Control Plan

It is pleasing therefore to see Louise Upston Associate Minister for Local Government calling for a comprehensive solution... However, relying on breed specific laws to manage dog aggression will not work. More>>

ALSO:

Not Waiting On Select Committee: Green Party Releases Medically-Assisted Dying Policy

“Adults with a terminal illness should have the right to choose a medically assisted death,” Green Party health spokesperson Kevin Hague said. “The Green Party does not support extending assisted dying to people who aren't terminally ill because we can’t be confident that this won't further marginalise the lives of people with disabilities." More>>

ALSO:

General Election Review: Changes To Electoral Act Introduced

More effective systems in polling places and earlier counting of advanced votes are on their way through proposed changes to our electoral laws, Justice Minister Amy Adams says. More>>

Get More From Scoop

 

LATEST HEADLINES

 
 
 
 
 
 
 
 
 
Regional
Search Scoop  
 
 
Powered by Vodafone
NZ independent news